Ophthalmologists and eye surgeons utilize specialized equipment and instruments called refractive surgery devices to perform refractive procedures. Refractive surgery is a subspecialty of ophthalmology that treats common visual issues so that patients may see clearly without the need of contact lenses or glasses. The instruments utilized in these operations are intended to modify the cornea or lens of the eye, changing its capacity for focus and enhancing visual acuity. The medical equipment used during surgical operations to treat refractive problems in the eye, such as myopia, hyperopia, astigmatism, and presbyopia, is referred to as the worldwide refractive surgery devices market. These tools are essential for increasing visual acuity and lowering the need for corrective glasses.
According to SPER market research, ‘Refractive Surgery Device Market Size- By Type of Surgery, By Device Type, By End-User - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Refractive Surgery Device Market is predicted to reach USD 325.14 million by 2033 with a CAGR of 4.11%.
Growing Prevalence of Refractive faults: Myopia and presbyopia are two examples of the refractive faults that are becoming more common worldwide. Numerous variables, such as evolving lifestyles, excessive screen time, and genetic susceptibility, might be blamed for this. The need for refractive operations and the equipment utilized in them is thus rising. Technological Progress in Surgical Procedures: Treatment results have been markedly enhanced by advances in refractive surgical procedures, including SMILE (small incision lenticule extraction), PRK (photorefractive keratectomy), and LASIK (laser-assisted in situ keratomileusis). These methods call for specialized equipment, such excimer and femtosecond lasers, which provide accurate and tailored treatments.
Dangers and consequences: Refractive procedures include inherent dangers as well as possible consequences, much like any other surgical treatment. These dangers consist of corneal ectasia, glare, halos, and dry eyes. The demand for surgical instruments may be impacted by individuals who are deterred from contemplating refractive operations because to their concern of unfavorable outcomes. The approval procedures and regulations governing the development and marketing of equipment used in refractive surgery are rather strict. Manufacturers may have difficulties in releasing innovative gadgets onto the market due to the time and cost involved in obtaining regulatory clearance or approval.
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Impact of COVID-19 on Refractive Surgery Device Market
The COVID-19 pandemic has had a detrimental effect on a number of industries, which has decreased company output. Customers began spending more time on digital gadgets during this epidemic, which is why it has a significant negative impact on the eyes. As businesses began to conduct their operations online, a new trend of working from home also evolved, contributing to an increase in the number of cases of myopia, dry eyes, and eyestrain. Furthermore, the need for refractive surgical equipment has been fueled by the growing elderly population.
Global Refractive Surgery Device Market Key Players:
Geographically, North America presently holds a sizable part of the market for devices used in refractive surgery. The region's supremacy in the market is a result of its established healthcare infrastructure, growing use of cutting-edge technology, and greater disposable incomes. Key players are Alcon, Abott Medical Optics, Bausch & Lomb Incorporated, Carl Zeiss AG, Ellex Medical Laser Limited, Johnson & Johnson Surgical Vision, Lumenis, Nidek, SCHWIND eye-tech-solutions, Ziemer Ophthalmic System AG.
Refractive Surgery Device Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Type of Surgery: Based on the Type of Surgery, Global Refractive Surgery Device Market is segmented as; LASIK, Photorefractive, Keratectomy, Conductive Keratoplasty.
By Device Type: Based on the Device Type, Global Refractive Surgery Device Market is segmented as; Lasers, Flaps, Aberrometers.
By End User: Based on the End User, Global Refractive Surgery Device Market is segmented as; Hospitals, Ophthalmic Clinics, Ambulatory Surgery Centres, Others.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Refractive Surgery Device Market Future Outlook
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